Friday unemployment report breakout Updated 6:51 a.m. Today sold off on the open to below yesterday’s low. Bulls want an early low of the day and then a reversal to above yesterday’s high. That would trigger a 4 day Head and Shoulders bottom. Yet, bears want a measured move down based on yesterday’s range. While […]
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Friday unemployment report breakout
Emini October bear flag breakout
Intraday market update: October 5, 2016
Emini October bear flag breakout Updated 6:44 a.m. While the Emini gapped above the 60 minute moving average, the initial bull bars were small and had prominent tails. This usually happens when the opening rally will fail after about 5 bars. Therefore, the odds are that there will be a pullback soon, and then a […]
Possible bull breakout above Emini bear flag
Intraday market update: October 4, 2016
Possible bull breakout above Emini bear flag Updated 6:49 a.m. Today began with more limit order trading at yesterday’s high, just above the 60 minute moving average. Yesterday was a bull channel and therefore a bear flag. Because the channel lasted more than 20 bars, the probability of a bull breakout is as high as […]
Price action favors stock market October selloff
Intraday market update: October 3, 2016
Price action favors stock market October selloff Updated 6:52 a.m. While the Emini opened just below yesterday’s low, which is support, the 1st 2 bars had bear bodies, which is not much buying at support. Yet, both had big tails below, which means the bears were not especially strong either. As a result of this […]
October 5% correction before presidential election
Emini weekend update: October 1, 2016
Monthly S&P500 Emini futures candlestick chart:October 5% correction before presidential election The monthly S&P500 Emini futures candlestick chart had a bear bar in September. After 7 consecutive bull trend bars, this therefore ends the buy climax. After 7 consecutive bull trend bars, the monthly S&P500 Emini futures candlestick chart finally had a bear body in […]
S&P500 Emini outside down day
Intraday market update: September 30, 2016
S&P500 Emini outside down day Updated 6:53 a.m. The Emini gapped above the 60 minute moving average after yesterday’s double bottom higher low major trend reversal. Yet, it formed an early tight trading range, and it is above yesterday’s midpoint. This increases the chances of an early selloff. Since yesterday was a big day and […]
October correction but not stock market crash
Intraday market update: September 29, 2016
October correction but not stock market crash Updated 6:49 a.m. Today begin with a limit order market within the trading range at the end of yesterday. Furthermore, it opened at the open of the month. Since that is a magnet, the Emini will have a difficult time getting too far. As a result, this will […]
Post presidential debate stock market rally
Intraday market update: September 28, 2016
Post presidential debate stock market rally Updated 6:48 a.m. While the Emini gapped up and created another island bottom, the gap was small, yesterday’s tight trading range is a magnet, and the 1st bars were dojis. Hence, the odds are against a strong trend day today. Instead, today will probably have a lot of trading […]
Post debate stock market breakout
Intraday market update: September 27, 2016
Post debate stock market breakout Updated 6:45 a.m. The Emini reversed up sharply from a bear breakout below a bear channel and from below yesterday’s low. It is back at the August 2 trading range low and the apex of the 5 day triangle. This is a sharp opening reversal at support. There is a […]
Island bottom and possible island top below all time high
Intraday market update: September 26, 2016
Island bottom and possible island top below all time high Updated 6:53 a.m. The Emini gapped down and formed a 2 day island top after last week’s lower high major trend reversal. While the 1st 2 bars had good bear bodies and today could become a trend from the open bear trend, it is more […]
